The CFTC is seeking comments on its draft technical specifications for swap data reporting. The specifications include eighty enumerated questions posed to commenters that address 120 elements for swap data reporting. The draft technical specifications include swap data elements that currently are not reportable under CFTC Part 45 and may assist the CFTC in fulfilling its regulatory mandates. CFTC Chair Timothy Massad stated that creating a system to collect and use data is a "significant project." "This is just one of the many actions the CFTC is taking to ensure accurate and effective data

IOSCO recommended twelve practices that regulators should consider incorporating into their oversight of market intermediaries. Based, in part, on a survey of market intermediaries in IOSCO jurisdictions, the practices are designed to minimize regulators' reliance on credit rating agencies for credit risk assessment. IOSCO stated the practices as follows: Establish an independent credit assessment function that is clearly separated from other business units, including the development of appropriate policies and procedures to ensure that decision-making is not unduly affected by operations from

CFTC Chair Timothy Massad signed a Memorandum of Understanding ("MOU") with Hong Kong Securities and Futures Commission Chief Officer Ashley Alder. The MOU concerns the exchange of information in the supervision and oversight of regulated entities that operate in both the United States and Hong Kong. Additionally, the CFTC issued an order of exemption to OTC Clearing Hong Kong Limited from registration as a derivatives clearing organization ("DCO").

The CFTC provided time-limited no-action relief to swap execution facilities ("SEF") from the requirement to capture post-trade information in their data on audit trails. The relief is subject to the condition that an SEF must require the relevant market participants to provide trade data to either the SEF or the CFTC. Further, in the event of either a market or trade practice surveillance investigation, "the SEF must ascertain whether a post-trade allocation was made, and if so, the SEF must request, obtain, and review the post-trade allocation information as part of its investigation." The

The SEC requested comments on FINRA's proposal to amend NASD Rule 1022 ("Categories of Principal Registration") and NASD Rule 1032 ("Categories of Representative Registration"). The proposal would remove the deadline before which eligible registrants must complete the firm-element continuing education requirement to engage in a security futures business. The SEC request for comments was published in the Federal Register. Comments must be submitted by January 11, 2016.